XML 44 R32.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Designated Preferred Units As of June 30, 2024, the Company has designated the following preferred stock:
Designated Preferred SharesJune 30, 2024
Series A4,200 
Series B2,360 
Series C590 
Series D10,000 
Series E 40,000 
Series E-112,960 
Series F-1 24,900 
Series F-224,900 
Series F-334,860 
Series F-424,900 
Total179,670 
Summary of Avenue Warrant Valued Using the Black-Scholes Option Pricing Method
The Company values stock options using the Black-Scholes option pricing model and used the following assumptions, on a weighted-average basis, during the reporting periods:
 Six Months Ended June 30,
 20242023
Expected terms (years)5.55.7
Expected volatility114.3%161.6%
Risk-free interest rate4.22%3.94%
Expected dividends0.00%0.00%
Summary of Stock Option Activity
The following is a summary of stock option activity for the six months ended June 30, 2024:
Number of Options Weighted Average
Exercise Price Per Share
Weighted Average Grant Date Fair Value Per ShareWeighted Average
Remaining
Contractual Term
(in years)
Aggregate Intrinsic
Value
(in thousands)
Outstanding at January 1, 20244,183,232$8.17 $7.60 8.3$147 
Granted2,213,0965.01 4.099.5
Exercised(32,300)5.22 4.15 60 
Expired(46,956)8.63 8.34
Cancelled/Forfeited(184,958)5.88 5.49
Outstanding at June 30, 20246,132,114$7.11 $6.41 8.4$12,902 
Exercisable at June 30, 20242,995,121$8.95 $8.17 7.4$3,443 
Unvested at June 30, 20243,136,993 $5.36 $4.73 9.3$9,459 
Summary of Stock Option Shares Outstanding and Exercisable
The following table summarizes information for stock option shares outstanding and exercisable at June 30, 2024:
Options Outstanding
Range of Exercise PricesOutstanding Number of
Options
Weighted Average
Remaining Option Term
(in years)
Number of Options
$2.83 - $51.50
6,131,6158.46,131,615
$51.50+
4993.8499
6,132,1148.46,132,114
Summary of Recognized Share-based Compensation Cost
The following is a summary of share-based compensation expense in the statement of operations:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2024202320242023
Selling, general and administrative$1,930 $911 $3,971 $2,099 
Research and development895 651 1,543 1,068 
Cost of goods sold244 99 500 155 
Total$3,069 $1,661 $6,014 $3,322 
Summary of Warrant Activity
The following is a summary of common stock warrant activity for the six months ended June 30, 2024:
 Warrants
Weighted Average Exercise Price
Weighted Average
Remaining Life
(in years)
Outstanding at January 1, 20244,665,201$7.76 1.6
Warrants issued1
1,008,1020.01 
Warrants exercised(1,308,473)0.01 
Outstanding and exercisable at June 30, 20244,364,8301.1
1All warrants issued in 2024 have been exercised and therefore have no remaining life.
The following is a summary of preferred stock warrant activity for the six months ended June 30, 2024:
WarrantsWeighted Average Exercise PriceWeighted Average
Remaining Life
(in years)
Outstanding at January 1, 202424,900 $1,000 2.3
Warrants issued— 
Warrants exercised(250)1,000 
Outstanding and exercisable at June 30, 202424,650$1,000 1.8
Schedule of Information Related to Stock Warrants Outstanding and Exercisable
The following table presents information related to common stock warrants outstanding at June 30, 2024:
Warrants Exercisable
Range of Exercise PricesOutstanding
Number of
Warrants
Weighted Average
Remaining Warrant Term
(in years)
Number of Warrants
$0.01737,4213.1737,421
$6.00
16,6661.816,666
$10.003,610,7430.73,610,743
4,364,8301.14,364,830